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Editorial Reviews
From Publishers Weekly
Today's world of rapidly advancing digital technology, Tanaka argues, has created a rare phenomenon in the economy: superior products are being delivered to consumers at the same or lower prices than in years past. Tanaka, an economist and money manager, presents his theory of "digital deflation," which converts the improvement in performance and quality of a product or service into an annual percentage increase in real economic value for the consumer. If the government would combine this phenomenon with fiscal policy reforms and a more accurate counting of economic growth, Tanaka says, we would see higher employment rates, declining interest rates and rising stock prices. The book has the intensive, highly technical detail of a doctoral dissertation and is probably too dense for general readers, but those with expertise and interest in the field will find Tanaka's theory stimulating and thoroughly researched.
Copyright 2003 Reed Business Information, Inc.
From Booklist
We usually don't want to hear economists talk about deflation because it reminds us of what happened during the Depression, when prices and wages went into a downward spiral and jobs evaporated. But there is another type of deflation that economists rarely talk about, and that is when the quality of goods rises, yet prices remain stable--in other words, you get more for your money. This is an effect that has been unique to digital technologies, and these "cheaper, better, faster" products are what drove the so-called New Economy of the late 1990s. Tanaka has studied these trends and developed the theory of digital deflation, a phenomenon that he says the government has failed to account for in its economic data. Tanaka believes that digital deflation will allow the prosperity of the 1990s to continue, as digital technology pervades every aspect of our lives to increase both standards of living and job productivity at a low cost. This optimistic vision of the decade ahead includes some enlightening interviews with tech giants, such as Michael Dell and Gordon Moore. David Siegfried
Copyright © American Library Association. All rights reserved
See all Editorial Reviews
Today's world of rapidly advancing digital technology, Tanaka argues, has created a rare phenomenon in the economy: superior products are being delivered to consumers at the same or lower prices than in years past. Tanaka, an economist and money manager, presents his theory of "digital deflation," which converts the improvement in performance and quality of a product or service into an annual percentage increase in real economic value for the consumer. If the government would combine this phenomenon with fiscal policy reforms and a more accurate counting of economic growth, Tanaka says, we would see higher employment rates, declining interest rates and rising stock prices. The book has the intensive, highly technical detail of a doctoral dissertation and is probably too dense for general readers, but those with expertise and interest in the field will find Tanaka's theory stimulating and thoroughly researched.
Copyright 2003 Reed Business Information, Inc.
From Booklist
We usually don't want to hear economists talk about deflation because it reminds us of what happened during the Depression, when prices and wages went into a downward spiral and jobs evaporated. But there is another type of deflation that economists rarely talk about, and that is when the quality of goods rises, yet prices remain stable--in other words, you get more for your money. This is an effect that has been unique to digital technologies, and these "cheaper, better, faster" products are what drove the so-called New Economy of the late 1990s. Tanaka has studied these trends and developed the theory of digital deflation, a phenomenon that he says the government has failed to account for in its economic data. Tanaka believes that digital deflation will allow the prosperity of the 1990s to continue, as digital technology pervades every aspect of our lives to increase both standards of living and job productivity at a low cost. This optimistic vision of the decade ahead includes some enlightening interviews with tech giants, such as Michael Dell and Gordon Moore. David Siegfried
Copyright © American Library Association. All rights reserved
See all Editorial Reviews
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